Bailing Out this Capitol Hill and UAW plan is socialistic insanity.
Dr. Mark J. Perry, professor of economics and finance in the School of Management at the Flint campus of the University of Michigan, says United Auto Worker employees earn, hourly and annually, including benefits: Ford: $70.51 ($141,020 per year), GM: $73.26 ($146,520 per year), Chrysler: $75.86 ($151,720 per year), Toyota, Honda, Nissan (in U.S.): $48.00 ($96,000 per year). (http://mjperry.blogspot.com/2007/07/uaw-pricing-themselves-out-of-market.html)
Your may note from this report that UAW employees earn more than university professors who are averaging salaries nationally at $92,973 ($73,207 + 27% benefits).
Perry, for instance, holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University in Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. Since 1997, he has been a member of the Board of Scholars for the Mackinac Center for Public Policy, a nonpartisan research and public policy institute in Michigan.
Many elected legislators on Capitol Hill, and UAW President Ron Gettelfinger, are asking US taxpayers to bail out our three failing US auto manufacturing business, without recourse.
All active UAW member/employees should rollover their entire retirement programs to provide necessary funding for the survival of GM, Ford, and Chrysler. Capitol Hill legislators who support this giveaway should consider the rollover their own retirement programs.
All legislators on Capitol Hill should vote “NO”. Capitol Hill legislators and UAW management should accept a major decrease in hourly wages and benefits, rather than having the taxpayers bail out a private corporation whose employee wages and benefits compensation are in excess of $100,000 annually.
Oscar Y. Harward